Carries two intertwined ideas:
精 (jīng, 'fine/refined/skillful') and
干 (gàn, 'to do, capable'). Together: 'distilled to capability'. Used both for individuals (sharp, no-nonsense) and for organizations (small but high-performing). Compare
能干 (nénggàn, 'able, competent') — neutral capability vs.
精干's 'lean and sharp' connotation.